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Iraq Agrees Deal With Angola's Sonangol

Deal signed for the drilling of 10 oil wells

The Iraq Ministry of Oil has signed a deal with Angolan state owned company Sonangol for the drilling of 10 oil wells in the Qaraya oilfield in northern Iraq. The ministry run Iraqi Drilling Company signed the agreement according to a ministry statement on Thursday.

The Qayara oil field, located near Mosul, is currently producing 30,000 barrels per day (bpd) with plans to double production to 60,000 bpd by March next year.

Source: Nasdaq



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